High School Students Financial Capability Sucks

Higher One and Moneythink Announce Partnership to Address Financial Capability of High School Students

Partnership will expand high school students’ access to financial literacy educational technologies and peer counseling opportunities with college students.

New Haven, CT – September 11 – A new partnership between Higher One, a leader in providing financial services and data analytics to more than 1,900 colleges and universities across the U.S., and Moneythink, a nationally recognized movement of young people working to restore the financial health of America, will address the need to provide students with the education on how to make sound financial decisions, specifically through peer counseling and new technologies.

“We are excited to announce this partnership with Higher One—a company leading the way in providing students with necessary tools to positively impact financial capability—to expand how we reach high school students with our approach to financial literacy,” said Ted Gonder, co-founder and CEO of Moneythink. “Our innovative model pairs college students with inner city youth in an intensive mentoring program and gets young people excited about making smart financial decisions. Our goal is to start students down the path toward economic success, which in turn generates a financial ripple effect through families and entire communities.”

Money Matters on Campus, a recently released research report, found that students who received financial literacy education in high school scored significantly higher than their peers on financial knowledge questions and are more responsible when it comes to money.

“These results show the need to start financial literacy education in the K-12 setting and in ways that take into account attitudinal, behavioral and demographic differences—it’s imperative that we seek to bridge the gap and increase financial capability among college-bound students,” said Mary Johnson, director of financial literacy and student aid policy at Higher One. “Higher One believes strongly that helping students learn to manage their finances early on in their adult lives is key to achieving college degree completion, and Moneythink is a leader in reaching high school students with relevant educational tools.”

This partnership will expand the reach of Moneythink’s peer counseling initiatives and explore how to bolster the use of mobile technologies to reach students.

About Moneythink
Recognized by President Obama, Moneythink is the only movement of young people restoring the economic health of the United States through financial education. By placing trained college volunteers in urban high schools as near-peer role models and financial mentors for teenagers, Moneythink leverages a high-touch approach to financial literacy. Coupled with cutting-edge mobile technology designed to support students both in and out of the classroom, Moneythink mentors are changing the way America’s youth thinks about and interacts with money. Find out more at moneythink.org.

About Higher One
Higher One Holdings, Inc. partners with colleges and universities to lower their administrative costs and to improve graduation rates. We provide a broad array of payment, refund disbursement and data analytics and management tools to institutions that help them save money and enhance institutional effectiveness. And for students, we offer financial literacy programs and convenient, flexible and affordable transaction options to help them manage their finances. Higher One is a leader in higher education, supporting more than 1,900 schools and 13 million enrolled students. More information about Higher One can be found at http://www.higherone.com.